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Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined

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57.53% (+2.00% 1wk)

Status: Neutral Environment (status change)

The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +2.00% this week.

Therefore, the overall combined average is at 57.53% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.

It was a volatile week with a sharp move down on Tuesday, which was once again reversed by the end of the week, with the moving average breadth closing +0.70% above its 20 day MA and -2.75% below its 50 day MA (signal line). Hence, with the move above its 20 day MA its status changed back to a Neutral Environment, with the field position still in the Neutral+ range.

The Point and Figure (P&F) chart (shown above) changed columns three times this week with the increase in volatility early in the week, but ended the week back in Xs, and so the P&F strategy changed to Offense (as it is in a column of Xs), and the P&F status changed to Bear Correction status in the upper-middle range.

From its current position, a close above 60% would make a double top breakout, and change to Bull Confirmed, and a close below 52 would change it to Bear Confirmed. So in a very neutral spot currently, but the field position is still leaning slightly on positive side at the moment.

See the Bullish Percent article for more information on the P&F statuses.

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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.